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Here’s what you need to know before US markets open.
1. Global stocks edge higher on expectations the Fed will calm inflationary concerns, and bond complacency creeps in. US futures were mixed as the market focuses on the central bank.
2. FinTech Acquisition V SPAC surges 20% after a report says it plans a merger with trading platform eToro. The merger would value the combined companies at around $US10 ($13) billion, a report said.
3. Churchill Capital Corp. founder Michael Klein is raising $US1 ($1) billion for a new SPAC. Klein’s Altc Acquisition Corp. plans to offer 100 million units in his eighth special purpose acquisition company.
4. Shark Tank’s Kevin O’Leary says it’s only the ‘third inning’ of growth for tech stocks. O’Leary said he continues to buy tech names despite the recent pullback.
5. $US40 ($52) billion of new stimulus money could go to bitcoin and stocks, Mizuho says. Mizuho surveyed 235 respondents with household incomes below $US150,000 ($194,031) about their stimulus checks.
6. One key signal suggests bonds are a favorable alternative to the stock market for the first time since 2019, BofA says. The lender says the recent rise in yields could be an opportunity for investors.
7. Short-sellers have tripled bets against SPACs since the start of 2021 amid fears the blank-check frenzy has gone too far. More and more short-sellers are beginning to turn their attention to SPACs.
8. Earnings expected. Zalando and Antofagasta are on the list.
9. On the economic calendar. The US reports retail sales before all eyes turn to the Fed on Wednesday.
10. The portfolio managers of a small-cap growth fund that returned 104% to investors in the past year lay out how they identify long-term compounders. They also share 3 stocks that are set to surge as part of the reopening trade.